The Sunday Times - April 16, 2006
The Livingstone brothers, two of Britain’s biggest property magnates, are this weekend on the verge of extending their empire into the fitness industry with a £200m (€290m) raid on the Next Generation chain of upmarket gyms, writes Mark Kleinman.London & Regional, the property firm run by Ian and Richard Livingstone, is in exclusive talks with UBS, the investment bank handling the sale, following the withdrawal of rival bidders Esporta and Whitbread.
A sale will crystallise multi-million payouts for Next Generation shareholders including John Magnier and JP McManus, the Irish racing tycoons, Scottish & Newcastle, and David Lloyd, the former tennis professional. London & Regional is understood to be planning a sale and leaseback of Next Generation’s 14 wholly owned sites.
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Tuesday, April 18, 2006
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